The Premiere Website For Police News In Texas

          



 

Dallas County Twins Sentenced in Foreign Currency Trading Scheme
Plano, Texas
   
 
More Today's News:
ߦ   IN MEMORIAM - Martha Washington, 66
ߦ   Police searching for suspects in FM 517 shooting (UPDATED)
ߦ   Grandmother, grandchild killed in Alvin ISD school bus crash in Brazoria County
ߦ   Let's Get Cynthia Vetter Moving!
ߦ   Blood Drive - Eagle Scout Project In Honor of Trevor Plumley
ߦ   23 South Texas Law Enforcement Officials Sign Onto Governor Abbotts Sanctuary Cities Op-Ed
ߦ   Alien Smugglers Get Hefty Sentences for Smuggling Venture that Led to Death
ߦ   Burnet County Sheriff's Office - Inmate/Arrests Summary
ߦ   Capital Murder at 3333 Marvin D. Love Freeway
ߦ   Chief's Weekly Executive Summary
ߦ   Click It or Ticket safety belt enforcement
ߦ   Copperas Cove PD Needs Help Identifying Suspects
ߦ   Former North Carolina Law Enforcement Officer Found Guilty for Role in Providing Armed Support to Large-Scale Drug Trafficking Organization
ߦ   Galveston County Sheriff's Office - Daily Activity/Arrests Summary
ߦ   Governor Abbott Announces Results From Violent Crime Reduction Operation In Harris County
ߦ   In Seattle, Police Can No Longer Report 'Suspects,' They Have To Say 'Community Members'
ߦ   Laredo City Manager Resigns Amid FBI’s Probe into Border Wall Company’s Alleged Bribes
ߦ   LAST CHANCE to help Texas dogs!
ߦ   Montgomery County Sheriff's Deputy Arrested for DWI
ߦ   Multiple Law Enforcement Agencies to Join Forces
ߦ   Paris Police Dept - Daily Activity Summary
ߦ   Paris Police Dept - Daily Arrests Summary
ߦ   Pasadena Police Looking for Two Persons of Interest In Murder
ߦ   Pearland Police Dept - Weekly Activity Summary
ߦ   Reward Offered for Most Wanted Sex Offender from Austin
ߦ   Traffic Stop Leads to Fraud Arrest - Mug Shots
ߦ   SUBSCRIBE To Texas Police News
ߦ   Employment
ߦ   Police News - Calendar of Events
ߦ   Arkansas State Trooper Tragically Dies, Leaves Inspiring Message
ߦ   Attorney General Jeff Sessions Welcomes the Confirmation of Rachel Brand as Associate Attorney General
ߦ   Bryan couple jailed for stealing hearse with body inside
ߦ   Central Texas police crackdown on 'move over' law violators
ߦ   City of League City Partners with American Legion Post 554 for Memorial Day Ceremony
ߦ   Coast Guard searches for missing swimmer near Matagorda Bay

   Next >>
 
Search Archives:

FOR IMMEDIATE RELEASE                DAVILYN WALSTON

           THURSDAY, MARCH 9, 2017        PUBLIC INFORMATION OFFICER                

http://www.usdoj.gov/usao/txe  

 

Dallas County Twins Sentenced in Foreign Currency Trading Scheme

 

PLANO, Texas – Dallas County twin brothers were sentenced to prison for federal violations in the Eastern District of Texas, announced Acting U.S. Attorney Brit Featherston today.

 

Roger Harvey Wagner, of Grand Prairie, Texas and Rodney Lee Wagner, of Cedar Hill, Texas, each pleaded guilty on July 7, 2016, to conspiracy to commit wire fraud and were sentenced to 48 months in federal prison on Mar. 8, 2017, by U.S. District Judge Amos Mazzant.  The 52-year-old twins were also ordered to pay restitution in the amount of $1,895,318.62.

 

           According to information presented in court, the Wagner brothers perpetrated what amounted to a Ponzi scheme that caused investors to lose over $2.1 million. From February through November 2010, the brothers solicited money from investors to be invested in foreign currency trading.  The brothers promised investors they would be repaid their principal plus a fixed rate of return that would be paid out to them over a series of weeks.  Very little of the invested money was used for foreign currency trading, and prosecutors contended the money received from the latest investors was used to repay earlier investors to keep them lulled. 

 

            "These scams, unfortunately, are in our midst,” said Acting U.S. Attorney Featherston.  “I encourage all potential investors to fully investigate any investment opportunity before handing over hard earned money.  If a deal sounds too good to be true, as the saying goes...it usually is!  These two individuals may not wear a mask over their face and may not carry a gun, but they are as much a thief as those that do, and they deserve the just punishment handed down by the court."
                       

This case was investigated by the Texas State Securities Board and the Federal Bureau of Investigation and was prosecuted by Assistant U.S. Attorneys Andy Williams and Tom Gibson. 

Post a comment
Name/Nickname:
(required)
Email Address: (must be a valid address)
(will not be published or shared)
Comments: (plain text only)
Printer Friendly Format  Printer Friendly Format    Send to a Friend  Send to a Friend    RSS Feed  RSS Feed
  Facebook   Share link on Twitter Tweet  


© 1999-2017 The Police News. All rights reserved.